I'm not seeing the actual contract online, which has to be public since it's a public university. I don't see it posted on MGoBlue. I assume MLive has,
because they're reporitng details.
Together, Harbaugh is guaranteed $4 million in 2021, $4.1 million in 2022, $4.2 million in 2023, $4.3 million in 2024 and $4.4 million in 2025.
The new figures mark a steep cut in a pay from what Harbaugh was guaranteed under his previous seven-year contract, a lucrative arrangement signed in December 2014 that began at $5.5 million per year, included two built-in 10 percent pay raises and a $2 million-per-year life insurance policy he was eligible to draw from.
Harbaugh now goes from the highest-paid head coach in the Big Ten to eighth, according to a 2020 survey from USA Today of college football coaching salaries.
The incentives make up for this by a lot.
Not sure what happened to the $2MM life insurance policy. That's a tough one to swallow... "
We're dropping your life insurance policy, because we no longer care if you die."
As far as I'm concerned this type of contract is more than fair, and should be the norm in college football. It's insane that with that amount of money, Harbaugh is only the 8th highest paid coach in the Big Ten.
As far as the buyout:
The buyout amount, in case Michigan chooses to terminate Harbaugh, starts at $4 million in 2021 and decreases by $1 million for each ensuing year.
If Harbaugh chooses to leave this year, he?ll owe Michigan $2 million ? a figure that decreases by $500,000 during each ensuing year.
I don't know what "a lot of money" is to the UM athletic department. Would they buy him out for $3MM in 2022? $2MM in 2023?
I'm not as pessimistic as you, Bob. I don't know what will happen in 2021, but I've seen the sort of pressure and low expectations propel teams way higher than expected, while in contrast, teams expected to steamroll their opposition often struggle. (Unless they're paying their players and have a huge talent disparity.)